The amount of data there is in the world is expect to compound over the next 10 years.
By 2025, one study suggests that global data growth will hit 180 trillion gigabytes by 2025. That is a massive and unfathomable amount of data.
As companies continue to go digital, many organizations have come to realize the vast amount of potential value that resides within this data. Making use of analytics tools can generate actionable insights and produce value within the organization.
The problem, however, is that data is held in many different forms in many different locations, which makes analyzing information from many different angles that much more difficult.
Cloud-based analytics tools offer a solution to this challenge. These tools enable organizations to analyze data in a single portal no matter where the source of that data is. This allows for the connecting of information held in different formats, in the cloud or on premises, throughout the enterprise.
Many benefits can be derived from an investment in cloud-based analytics tools, such as:
- Increased connectivity of data throughout the organization
- Scalable analytics capabilities
- Improved decision-making processes
- Accelerated decision-making functions
Connectivity in the cloud creates greater opportunities for collaboration across the business. There are two other important gains from moving in the direction of cloud-based analytics:
- Deeper insights available from using big data and machine learning technologies can augment the decision-making process, which allows the organization to make more informed choices.
- The flexibility and scalability of the cloud gives access to the analytics tools to a broader range of people throughout the organization. The platform accelerates the time to insight and supports a boost to quick decision-making and increased innovation.
Artificial intelligence and automation offers huge data opportunities for companies to experiment with cloud-based analytics. Companies can use data analytics to deploy critical support roles and uncover issues with products as well as offer preventative and maintenance tools.
As a result, cloud-mature organizations are taking necessary steps to secure more benefits from data analytics. If you want to be among thus number, now is a good time to start. If you want to know more about how analytics and insights can be more business-driven for your organization, click the link below for more information.